Givaudan has invested in a Series A fundraising for Next Beauty China, expanding its exposure to the high-growth Chinese fragrance and beauty market.
WHO: Shanghai-based Next Beauty was founded in 2018 and employs around 50 employees. They are recognized as experts in identifying high-potential premium brands, and positioning, marketing, and distributing emerging fragrance and beauty brands in China. With more than 15 successful brands launched in less than three years, Next Beauty has established itself as a leading incubator for fragrance and beauty brands in China.
Givaudan is a global leading company in taste and well-being, and fragrance and beauty. With its heritage stretching back over 250 years, the company has a long history of innovating scents and tastes.
WHY: This investment relationship will leverage each business’s respective capabilities to support emerging fragrance and beauty brands, with creative, unique, and integrated solutions for the Chinese market.
IN THEIR OWN WORDS: “Initiating this exciting partnership with Next Beauty China, by becoming a shareholder, provides Givaudan with a further access into the high growth Chinese fragrance & beauty market and is fully aligned with our 2025 strategy. By sharing our creative and innovation capabilities, we will be able to generate additional value for Next Beauty as they seek to develop premium brands for Chinese consumers,” said Maurizio Volpi, President Fragrance & Beauty at Givaudan.
Ms Yu Lu and Mr Gregoire Grandchamp, co-founders of Next Beauty, said: “We are thrilled to enter into this collaboration with Givaudan. We would like to thank the Givaudan team for their trust and also our existing partners and collaborators for their ongoing cooperation and support. Givaudan’s global capabilities and its very strong footprint in China will be a great support in many areas as we look to develop Next Beauty and capture the exciting growth opportunities in the Chinese fragrance & beauty market.”
- Givaudan invested in the Series A funding round of Next Beauty.
- The terms of the deal will not be disclosed, and Givaudan funded the transaction from existing resources.
- In June Givaudan entered into an industry-first partnership with Tmall to launch the T-Lab source innovation laboratory and capture digital opportunities for fragrance creation in China. The partnership will leverage Givaudan's creative fragrance solutions and production capabilities in China, powered by Tmall's consumer behavior data capabilities and ecosystem of partners.
2 Article(s) Remaining